Chevron Co. (NYSE:CVX) Shares Purchased by Graypoint LLC

Graypoint LLC grew its position in shares of Chevron Co. (NYSE:CVX) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,674 shares of the oil and gas company’s stock after purchasing an additional 1,266 shares during the period. Graypoint LLC’s holdings in Chevron were worth $3,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its position in Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC increased its stake in Chevron by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares during the period. Franklin Resources Inc. lifted its holdings in Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock worth $2,610,645,000 after buying an additional 573,218 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Chevron by 3.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after buying an additional 501,969 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Up 2.0 %

Chevron stock traded up $2.99 during midday trading on Friday, hitting $153.29. 11,072,701 shares of the stock were exchanged, compared to its average volume of 7,539,276. Chevron Co. has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a 50 day moving average price of $153.68 and a two-hundred day moving average price of $151.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $275.48 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.05 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CVX shares. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, UBS Group raised their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.60.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.